The benefits of offshore banking with HSBC Expat

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Banking offshore

Wherever you live, banking offshore gives you the opportunity to grow and protect your money in an economically stable and central location. So you can keep your money in one place while you move around the world.

Banking offshore also makes it easier for you to manage your finances in multiple currencies across different countries.

What is offshore banking?

Offshore banking simply means you have a bank account in a location outside the country you're living in. This location is usually a low tax jurisdiction.

Why bank offshore?

Most expats have a bank account in their home country to manage financial commitments like property payments and school fees. You also need a bank account in the country where you're living to cover things like your rent, utilities and shopping. Banking offshore provides a link between all your banking arrangements, giving you easy international access to your finances and a central home for your money.

What are the main benefits of banking offshore?

Convenience - stay with the same bank, no matter how many times you move country

Choice of currencies - a wide selection of multicurrency savings and investments to help you grow your wealth Read more

*Tax obligations: Whilst banking offshore may have potential tax benefits for you, tax rules differ from country to country. If you are unsure about your personal tax obligations, you should seek professional advice. It is your responsibility to disclose your income to the tax authorities.

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